What is Consumable Spirits Market?
Consumable spirits are the alcoholic distilled spirit available in natural and flavored forms, these spirits can be consumed with different types of cuisine. The consumable spirits do not contain any sugar and consists of at least 20% of alcohol by ABV. They are widely consumed across the world in households, restaurants, and hotels and easily available in liquor stores and online stores in various brands. Consumable spirits include vodka, brandy, whiskey, rum, tequila, and other variety of spirits.
Highlights from Consumable Spirits Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Stock Spirits Group (United Kingdom), William Grant & Sons Ltd (United Kingdom), Diageo plc (McDowell's No.1) (United Kingdom), HiteJinro Co., Ltd. (South Korea), Allied Blenders & Distillers (Officer's Choice) (India), Emperador (India), Pernod Ricard (Imperial Blue) (France), Constellation Brands, Inc. (United States) and Suntory ROKU (Japan) |
The consumable Spirits market is fragmented with the presence of various players. The companies are focusing on the new product launches with research and development activities. They are also planning on strategic activities to expand and sustain in the market.
Stock Spirits Group (United Kingdom), William Grant & Sons Ltd (United Kingdom), Diageo plc (McDowell's No.1) (United Kingdom), HiteJinro Co., Ltd. (South Korea), Allied Blenders & Distillers (Officer's Choice) (India), Emperador (India), Pernod Ricard (Imperial Blue) (France), Constellation Brands, Inc. (United States) and Suntory ROKU (Japan) are some of the key players profiled in the study. Consumable Spirits Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Household, Restaurants and Hotels |
Type | Flavoured Spirits and Natural Spirits |
Products | Vodka,Brandy,Whiskey,Rum,Tequila |
Distribution Channel | Liquor Shops,Online Stores,Hypermarket,Others |
On the basis of geography, the market of Consumable Spirits has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Popularity of Flavoured Spirits Among People as it has Different Fusion Flavors
Market Growth Drivers:
Increasing Demand for Alcoholic Beverages and Easy Raw Material Availability to Make Consumable Spirits
Challenges:
High Cost Associated with the Consumable Spirits and Stiff Competition in the Consumable Spirits Market
Restraints:
Excess Consumption of Consumable Spirits Might Pose a Threat to Health
Opportunities:
Surging Demand for Consumable Spirits from Developing Nations and Rising Spendings of Investors on Developing Distillers and Distributing it under Different Brands Worlwide
Key Target Audience
Consumable Spirits Manufacturers, Consumable Spirits International Traders, Consumable Spirits Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
On 5th April 2021, Boutique organic spirits creator Square One Organic Spirits continues to grow its retail footprint by recently signing nonalcoholic beverage distribution agreements with United National Foods Inc. (UNFI) and KeHE Distributors LLC.
"FSSAI, which is an autonomous body under the Union health ministry, has taken the move to ensure that citizens consume only those products that have a prescribed percentage of alcoholic content. Adhering to the FSSAI Act, 2006, the new standards deem any beverage with over 0.5 percent of alcohol as an alcoholic beverage, and this will be applicable to not just domestic products but even those that are imported. The regulations are being made with the aim to control the market of alcohol manufacturers and also to ensure that people consume a safe drink."